MDV, in a statement today, said the RM230 million was issued on a bought deal basis with CIMB Investment Bank Bhd (for RM130 million sum) and Affin Hwang Investment Bank Bhd (for RM100 Million sum) as primary subscribers.

“The proceeds from the issuance will be used to provide access to financing by small and medium enterprises (SMEs) for projects in the information and communications technology, biotechnology, green technology and emerging technology sectors in Malaysia,” it said.

The fund was fully guaranteed by the government and approval of the first RM230 million drawdown demonstrates its strong commitment to the advancement of the technology sector in the country.

The first drawdown of the fund also reflects MDV’s ongoing commitment to ensure that it is able to serve financing demands from companies with bankable technology projects and continued support to its existing customers to implement their projects and back up their growth aspirations.

Thus far, MDV has disbursed more than RM11.5 billion in financing to more than 800 companies.